So if you list with a broker, who offers $1500 or 10% commission, whichever is greater, and that broker works with another brokerage firm, who finds you a buyer, do both brokers get commissions? For example, I list with company A. Company A advertises my unit. Company B knows someone wanting to buy that unit and helps company A negotiate that sale. What is fair for original Company A to pay for a finders fee to Company B? Is it from their pocket or mine?
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Paying 2 broker fees????
- Thread starter thelowes
- Start date
In most real estate transactions the buyers agent is compensated by the listing broker.
However anything can be negotiated. If the listing agent doesnt pay the buyers agent or if the buyers agent wants more than the listing agent is paying then it is very possible that the buyer will have pay their broker.
The buyers broker, may even get paid by both parties,,,
There shouldnt be any surprises, these fees should be negotiated in advance.
However anything can be negotiated. If the listing agent doesnt pay the buyers agent or if the buyers agent wants more than the listing agent is paying then it is very possible that the buyer will have pay their broker.
The buyers broker, may even get paid by both parties,,,
There shouldnt be any surprises, these fees should be negotiated in advance.
TimeshareFriend
TUG Member
In the listing agreement there is usually a stipulation concerning the event of a cooperating broker. Our listing agreement states in the event of a co-broke $1,000 will be paid to both brokers -- this is definitely something you want to discuss before signing anything.
Tyler Stofel
Tyler Stofel
Tricky.. What broker was this???
Normally, the listing broker would simply split his commission with the selling broker. You agreed to a specified commission amount when you listed the property, so the broker should also be willing to honor that agreement. If they won't - shame on them!
You just have to read the listing terms. As stated earlier, some will require a minimum commission of $2,000 for a shared transaction.
Normally, the listing broker would simply split his commission with the selling broker. You agreed to a specified commission amount when you listed the property, so the broker should also be willing to honor that agreement. If they won't - shame on them!
You just have to read the listing terms. As stated earlier, some will require a minimum commission of $2,000 for a shared transaction.